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Chancellor of the Exchequer Jeremy Hunt leaves 11 Downing Street, London, with his ministerial box before delivering his Budget at the Houses of Parliament, on March 16, 2023
YEARS of weak public investment represent an “institutional failure of the British state” which has undermined economic growth and key services, a leading think tank said today.
The Resolution Foundation demanded a change in fiscal rules determining government spending and tax decisions and also suggested that the Treasury be stripped of its powers to decide on public investment.
In its latest report, Cutting the Cuts, the foundation revealed that low levels of public investment have consistently placed Britain among the weakest third of the 38 so-called “advanced economies” in the Organisation for Economic Co-operation and Development (OECD).
A sharp rise in public-sector investment is required to kick-start the economy, argues MICHAEL BURKE
Only an ambitious programme of state-led investment can restore growth and improve living standards, argues MICHAEL BURKE
Government's plan means ‘extra cash for war and overseas interventions, but less for schools and hospitals,’ Unison general secretary Andrea Egan warns